PerkinElmer, Inc. to Issue Quarterly Dividend of $0.07 (PKI)
PerkinElmer, Inc. (NYSE:PKI) declared a quarterly dividend on Friday, October 27th, RTT News reports. Investors of record on Friday, January 19th will be given a dividend of 0.07 per share by the medical research company on Friday, February 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%.
PerkinElmer has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PerkinElmer to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.6%.
PerkinElmer (NYSE PKI) traded up 0.86% on Friday, reaching $72.72. The company had a trading volume of 583,404 shares. PerkinElmer has a 12-month low of $45.35 and a 12-month high of $72.77. The stock’s 50-day moving average price is $69.70 and its 200-day moving average price is $65.67. The stock has a market capitalization of $8.01 billion, a P/E ratio of 21.93 and a beta of 0.72.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.67. The company had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $554.14 million. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. PerkinElmer’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that PerkinElmer will post $2.88 EPS for the current fiscal year.
A number of equities analysts have commented on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price target on shares of PerkinElmer in a research note on Friday, October 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $72.00 price target on shares of PerkinElmer in a research note on Friday, October 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $77.00 price target (down from $79.00) on shares of PerkinElmer in a research note on Friday, October 6th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of PerkinElmer in a research note on Sunday, July 16th. Finally, Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.14.
COPYRIGHT VIOLATION NOTICE: “PerkinElmer, Inc. to Issue Quarterly Dividend of $0.07 (PKI)” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/27/perkinelmer-inc-to-issue-quarterly-dividend-of-0-07-pki.html.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
Receive News & Ratings for PerkinElmer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PerkinElmer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.